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Reuters/Anna Szymanski
“Adjustments to the Fed’s policy framework are important. But the bigger change – the central bank’s unspoken, yet obviously heightened, concern about upsetting asset markets – occurred in the past decade without any official fanfare.”
USAGOLD note: And it is the one, according to Symanski, that is still in place. A good companion piece to the two posts immediately below. “Investors,” she says, “are behaving as if the Fed won’t let asset prices fall.”
Repost from 8-27-2020